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By Brooks A. Mick, M.D.
May 6, 2006 Quite a few months back I wrote some pieces on this site about how one can become wealthy. I have a bit of an update. The young Chinese lady who had taken over her father's small hole-in-the-wall restaurant when he moved to a much bigger, fancier one, has followed that pathway herself. She sold the hole-in-the-wall to a cousin who is now running the old place quite well and is even busier than ever, and she has moved from the Tidewater, Virginia, area to Fort Wayne, Indiana, where she opened a bigger, more elegant place. I have no doubts she is doing well, though haven't been to eat there myself! In addition she has married and AFTER marrying became pregnant and has started a family in her middle twenties. She is thus following the great economist Walter William's rules for getting ahead in life. Avoid early pregnancy, avoid single parenthood, get a job, and save some of your money for investing in the future. And invest that money in assets, not liabilities! This is much the opposite life plan from that of Suge Knight, who has, despite having made millions and millions, now only $11 in the bank and has nearly 2 million dollars in debts. Suge Knight preferred, it seems, to follow the Mike Tyson and Michael Jackson plan to reach financial insecurity. Earn a lot now and spend it on bling. One should note that bling, in the form of big houses and fancy cars and high-priced audio-visual equipment are not just toys, but LIABILITIES. That is, they continue to eat up money in upkeep. They don't contribute to wealth, they suck it away. They vacuum your wallet every day. It is quite instructive that many sports stars and rock stars and rap stars end up broke. As the old saying goes, "Experience is a great teacher--and a fool will have no other." My hope is that there are a few non-fools out there who can learn from SOMEONE ELSE'S experience. Think about it: A young Chinese immigrant who can hardly speak English is going to end up wealthy and retire happily some day, while a rap star who was born in this country and can hardly speak English will earn millions and millions and yet end up in bankruptcy. As the old Billy Crystal routine went, "Can you dig it? I knew that you could!" http://www.thesmokinggun.com/archive/0505061suge1.html ------------ About the author Brooks A. Mick: Physician, still practicing medicine but retired from the US Army. Write just for the fun of it, but working on novel in the vein of Tom Clancy's politico-military genre. Email: brooks15@cox.net Comment on this article here! ------------ All articles are EXCLUSIVE to Useless-Knowledge.com and are not allowed to be posted on other websites. ARTICLE THIEVES WILL BE PROSECUTED! |
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